OECD reduces American and global economic prospects because Trump’s trade tariffs strive to grow
It was missing rain, customers and visitors from Oxford Street who raised bad weather from the latest storms using umbrellas 28 January 2025 in London, the United Kingdom. Oxford Street is the main retail center at the western region of the capital and is the most prominent trade street of Europe with about half a million daily visitors in their about 300 stores, most of which are fashion and high clothing streets. (Photo Mike Kemp/in Picture via Getty Images)
Mike Kemp | In pictures | Getty Images
Both American and global economic growth are set lower than before, according to the latest estimates of the organization for economic cooperation and development.
“Global GDP is expected to moderate with 3.2% in 2024, at 3.1% in 2025 and 3.0% in 2026, with higher trade obstacles in several G20 economies and increased geopolitical and political insecurity that strives for investment and households,” he said on Monday.
“It is predicted that the annual growth of GDP will slow down from the United States from a strong recent pace and be 2.2% in 2025 and 1.6% in 2026.”
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